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Posted on 1/5/15 at 3:11 pm to Spirit of Dunson
quote:yeah, but in the middle east, russia, US, or all of the above?
companies reduce drilling and/or production. Some companies go out of business.
Posted on 1/5/15 at 3:11 pm to LoveThatMoney
quote:
As a general notion, crude being so low is a bad thing for the economy. The "more disposable income for people" argument does not come close to making up the difference of the deleterious effect of low crude oil prices in the American economy
citation?
quote:
The last time crude was this low, we entered the worst economic crisis in recent history.
are you suggesting low crude prices caused the crash of 2007? because you have it backwards. the crash happened first, then the price of crude was lowered. it was still extremely high in the lead up to the financial collapse.
Posted on 1/5/15 at 3:11 pm to anc
quote:
Drop below 50
Why, it's all cyclical.
Posted on 1/5/15 at 3:13 pm to GreatLakesTiger24
quote:not being glib, but where ever it is least profitable. Mature fields. A lot in the US.
yeah, but in the middle east, russia, US, or all of the above?
Posted on 1/5/15 at 3:13 pm to WaveHog
quote:
quote: The last time crude was this low, we entered the worst economic crisis in recent history.
Funny, I seem to remember oil being very low during the prosperous 90s
Posted on 1/5/15 at 3:15 pm to magildachunks
quote:I loved it when I started driving in the late 90s.... Think the first tank of gas I put in my car ran me $0.89/Gallon
Funny, I seem to remember oil being very low during the prosperous 90s
Posted on 1/5/15 at 3:17 pm to SuperSaint
20 dollars would buy me a pack of cigs, a drink, and almost a full tank.
Posted on 1/5/15 at 3:17 pm to anc
pisses the !@#$% out of me because I've got interests in about 20 wells!
Posted on 1/5/15 at 3:17 pm to SuperSaint
Posted on 1/5/15 at 3:19 pm to magildachunks
quote:Nickle sack, Optimo sport, 20oz lemon lime 10-K, half a tank of petro
20 dollars would buy me a pack of cigs, a drink, and almost a full tank.
Posted on 1/5/15 at 3:22 pm to captainahab
quote:
My baller buddy (in the O&G business) was moaning that he may have to sell the new BWM X5 he just gave his 16 daughter.
And this is why I struggle to feel sorry. How about those of us who don't have the benefit of living where these high paying jobs are located, and the $4 a gallon gas is a hardship.
I go back to what I said earlier and in the other thread, if you are making bank working in these areas, more power to you, but I hope you are saving for the cycles. If you aren't, I can't have much sympathy.
The rest of us have to do that.
Posted on 1/5/15 at 3:46 pm to tgrbaitn08
We haven't let anyone go yet, December was best month in history of company
Posted on 1/5/15 at 3:50 pm to yellowfin
One of our projects magically was put on hold for 2 months this morning.
2 months equals at least 4 months in reality, and that's IF it ever restarts.
2 months equals at least 4 months in reality, and that's IF it ever restarts.
Posted on 1/5/15 at 3:56 pm to LSUAlum2001
quote:
LSUAlum2001
Posted on 1/5/15 at 3:59 pm to yellowfin
December was one of our best months in years as well. We even held some checks and invoices over until today. Are you still with that same co or did you take that other offer?
Posted on 1/5/15 at 4:00 pm to anc
Job markets and industries change. If people can't diversify and adapt, they will get left behind.
Posted on 1/5/15 at 4:01 pm to fightin tigers
quote:
nope, not petrochem.
So you will be an environmental consultant for?
Those guys do more than petro work. I know an EC that does everything from reports on potential subdivisions to mold remediation.
Posted on 1/5/15 at 4:04 pm to yellowfin
Last year was the best year our company has ever had, by far. It started tailing off around the middle of December but is holding pretty steady. We haven't let anyone go yet either but are starting to discuss it so we will be ready if it slides off more.
I'm on the drilling side BTW
I'm on the drilling side BTW
Posted on 1/5/15 at 4:07 pm to stout
I could start a company tomorrow doing nothing but phase 1/2 assessments
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